Eco- Consumer Behavior?

Question

How can time be incorporated into the theory of consumer behavior/ Explain the following comment: "Want to make a million dollars? Devise a product that saves American time."

Answer 1

time is a commodity, first f all remember labor-leisure choice!(a worker would b glad to rest but given labor is productiveand he has a funny feeling in his stomach(S) he would lik to work or b productive, there-in, he would lik to b as fficient as poswsible to do a wide rang of activities with varied rewards and max util. of life, and rest!)

meoW! so time is precious, people r willing to pay for time but, who? to whom time is extremely precious as compared to money, those kind a people who lov totak pvt. rides instad of using public transport! American time refers to the high speed of life that americans use, the per capita wealth that they hav a bit chauvinism 4 markters! time changes courses of product lives of people, and profitability, we must remember how plans and strategies r at least time bound and how the world seems to be a funny thing when looking back thro time!

if u were lik minded u'd understand i am telling u b b cautios while dealing with time and saving instruments-----

people with bad marriages would rather stayback at work,

again as consciousnss changes over time so does behaviour so by saving time ur product needs not b timed out!

i mean, they already hav to spend so much see? bundle is all that i mean pinches less. and r&D and possible risk diversion is a must if ur firm wants not to folloew the owners of this blog(yahoo case,see?) so get something out on a mature stage only!

now that product could b info services eg. instant news,

a water proof cellular phone, the funny ad? or even tools designed to be faster and accurate, c.a.m. and c.a.d, tools ---thats the one highest revenue earner nd safest!

so save time where it's precious!

Answer 2

Eco-Consumer behavior is the study of how people buy, what they buy, when they buy and why they buy. It blends elements from psychology, sociology, sociopsychology, anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics, psychographics, and behavioural variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general.

Belch and Belch define consumer behavior as 'the process and activities people engage in when searching for, selecting, purchasing, using, evaluating, and disposing of products and services so as to satisfy their needs and desires'.